Router Market is Projected to Grow at a Tremendous Rate to Attain USD 33.96 Bn by 2030
Router
is a physical or virtual internetworking device that is designed to receive,
analyze, and forward data packets between computer networks. In addition, it
manages traffic between networks by forwarding data packets to their intended
IP addresses, and allowing multiple devices to use the same internet
connection. Furthermore, routers are configurable, which allows network manager
to create policies based on routing decisions. In addition, with the use of
cutting-edge technology such as AI and machine learning, routers can now make
smart decisions allowing customers to prioritize urgent cases and high-value
customers, precisely route a case to the correct bot or agent, and orchestrate
how humans and bots collaborate to quickly resolve customer problems.
According to
the report published by Allied Market Research, the global router market generated
$14.90 billion in 2020 and is estimated to reach $33.96 billion by 2030,
witnessing a CAGR of 8.4% from 2021 to 2030. The report offers a detailed
analysis of changing market dynamics, key investment pockets, top segments,
value chain, regional scenario, and competitive landscape.
COVID-19
scenario:
➢ The Covid-19 pandemic led
to the requirement for robust network connectivity among the individuals and
surged adoption of different types of routers in various sectors such as
education, BFSI, healthcare, and IT and telecom worldwide.
➢ The adoption of the “work
from home” culture by several organizations increased the need for routers at
home. However, there were hindrances in manufacturing facilities and supply
chains due to lockdown measures taken by governments of different countries.
The
report offers detailed segmentation of the global router market based on type,
end-user, and region.
Based
on end-user, the IT & telecom segment held the highest share in 2020,
accounting for more than two-fifths of the global router market, and is
estimated to maintain its dominant share during the forecast period. However,
the healthcare segment is projected to witness the largest CAGR of 13.6% from
2021 to 2030.
Based
on region, North America accounted for the highest share in 2020, holding more
than one-third of the total share, and is estimated to maintain its lead
position by 2030. However, Asia-Pacific is projected to portray the fastest
CAGR of 10.9% during the forecast period.
Based
on type, the wireless segment accounted for the largest share in 2020,
contributing to nearly two-thirds of the total share, and is estimated to
maintain its leadership status during the forecast period. Moreover, this
segment is expected to register the highest CAGR of 9.1% from 2021 to 2030. The
report also analyzes the wired segment.
Leave A Comment